Form 13F filings show hedge funds sold Nvidia and Alphabet shares while increasing Amazon holdings amid AI sector shifts.
Billionaire money managers have reduced exposure to Nvidia and Alphabet, favoring Amazon as their preferred AI stock, according to quarterly regulatory filings. Despite Nvidia’s 92% data center sales growth and Alphabet’s 63% Google Cloud revenue surge, hedge funds have consistently sold shares in both companies over recent years.
Nvidia’s dominance in AI infrastructure faces rising competition as major customers develop in-house GPUs. Alphabet’s AI application leadership, including generative AI integration into Google Cloud, has not deterred selling pressure. Amazon’s cloud and AI initiatives appear to offer a more compelling long-term bet for institutional investors.
The shift highlights investor concerns over valuation and competitive threats in the AI sector, despite strong quarterly performance from both Nvidia and Alphabet.